Tencent bets on AI models over $53bn hardware profits

Tencent declined instant profits from renting its $53bn compute infrastructure, choosing instead to build state-of-the-art models like Hunyuan-4. President Martin Lau said offers for compute capacity exceed 30 percent profit over recent purchase prices. Q2 revenue grew 11 percent to $30.3 billion, with net profit up nine percent to $10.3 billion.